Ken Perkins
Ken Perkins
began compared couple department group improving november percent performance positive profits quarters rise rose sales seen since stores tracking year
We haven't seen this kind of positive sales performance since we began tracking the group in November 2000. Fourth-quarter profits for department stores rose 5 percent compared to a 1 percent rise a year ago. We've now has a couple of quarters of improving trends.
despite difficult february good last percent results sales today
We're getting some very good results today despite the very difficult 6.7 percent February same-store sales comparisons from last year.
finally gains great month numbers sales seen
We've finally got a great February. The first set of numbers indicates that this was a blowout month with the kind of sales gains that we haven't seen in a while.
anniversary company marks month next positive sales time
Next month is the first time the company marks the anniversary of positive sales comparisons. From here on, the comparisons get increasingly difficult.
aware best buy faces half investors looking obvious rose sales second tougher
One obvious explanation (for the weakness) is that investors are aware that Best Buy faces much tougher sales comparisons, particularly in the second half of the year. Looking at the numbers, second-quarter sales were up 7.8 percent, third-quarter sales rose 5.8 percent.
came carried marketing retailers sales strength
Sales really carried through at the end of the season, particularly for the mall-based stores. Some of the strength probably came from retailers really aggressively marketing and being really promotional.
apparel casual clothes frequently men sales shop
Sales of men's apparel has been lagging for some time. Men usually don't shop as frequently as women. When they do, there's only so much of casual clothes men really need.
apparel august bulk consumers indication month positive provide sales showing signs spending strongest
August is the big month because that's when the bulk of the back-to-school revenues are generated, ... But we got some very positive signs in July, especially with apparel sales showing the strongest monthly gains. Apparel sales are important because they provide the first indication of how consumers are spending their discretionary income.
concerned earnings hit investors sales unless
That's a pretty long stretch, and investors are concerned that earnings could take a hit unless sales improve.
april december easter gain last low percent prior pushed sales time year
The last time Wal-Mart had a monthly same-store sales gain that low was back in December of 2000, with a 0.3 percent rise. Prior to that was in April of 1996, with a 0.2 percent gain. That was probably another year when Easter got pushed into April.
bad far january numbers surprise turning
January is turning out to be a real surprise to the positive. So far the same-store numbers that we're getting aren't bad at all.
cheaper discount hurting impact marginal products stores
Is Wal-Mart also hurting its business? I think cheaper products at the discount stores did have a marginal impact on the company's sales.
consumer finding last resilient ways year
The American consumer has been particularly resilient over the last year plus, ... They're finding ways to spend.
opinion thrilled vote
We don't have an opinion or more importantly a vote one way or another. We're not thrilled with it ... but it's essentially up to the analysts.